Ripple building Worldwide Cryptocurrency Remittance Network

Instarem and RationalFX, are building RippleNet corridors between the United Kingdom and Malaysia, Vietnam, Sri Lanka, Bangladesh, and Indonesia.

Furthermore, Remitr and FlutterWave have built the first cryptocurrency remittance corridor between North America and Africa. Notably the two companies have established RippleNet corridor between Canada and Nigeria.

BeeTech and InstaReM are reportedly building RippleNet corridors connecting Brazil with Spain, Portugal, Germany, France, and Portugal. Obviously this is big because it links a major emerging market (Brazil) with the Eurozone.

In addition, MoneyTap has built a RippleNet remittance corridor between Japan and Thailand. MoneyTap’s solution reportedly includes an app designed to enable Ripple (XRP) transfers from Japanese banks.

MoneyTap is a potential game changer because it offers a revolving line of credit based on digital currency accessed through a smartphone. Moreover, it is possible to send funds to a MoneyTap account in Thailand from an ATM in Japan.

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$54 Billion invested in Cryptocurrencies

There is now $54 billion invested in 600 different publicly traded cryptocurrencies, research by City University of London economist Abeer El Bahrawy indicates. El Bahrawy made that discovery while trying to determine the size and scope of the cryptocurrency market, MIT Technology Review reported

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